When utilizing the services of a lawsuit finance company, one most always consider whether is is an appropriate strategy. As its’ principal function, a legal finance service should be used to enhance case revenue. When an offer is made, a financially desperate plaintiff is not a positive influence on settlement negotiations. Thus, the core purpose of legal funding should be a improve case results by removing the plaintiff’s financial incentive to settle early and cheap. Insurance companies have three very valuable things that most plaintiffs lack:
Time and power are used strategically by insurance companies; they "delay, deny, confuse and refuse" and use the lengthy process to their advantage to "starve" a needy plaintiff into a lower-than-full-value settlement. If an offer is made in a time a significant financial need (like when the plaintiff is behind on mortgage, car or health insurance payments), it is likely to be considered or accepted by the desperate plaintiff. In most states, an attorney is in a conflict of interest situation when it comes to loaning money to his/her client. Lawsuit funding companies have a "hands off" policy when it comes to the handling of the case; they do not involve themselves in the case in any way except to perfect a lien on the proceeds, if the case concludes successfully. Strategic litigation decisions are between you and your client; you should never find yourself answering to a legal funding company. Thus, participation in a lawsuit finance program should not have any effect on the attorney-client relationship.
The client can often receive funds within 24-48 hours of the application; It is easy to apply, online or by telephone with a friendly para-professional lawsuit funding representative. You provide minimal case documentation; the documentation is reviewed, and, if an advance is approved, a contract is submitted for signature. Your client will usually have needed cash in his or her hands within 24 hours. Remember your client pays nothing if the case is not resolved in the client’s favor.
Life’s obligations do not stop because your client was involved in an accident. Lawsuit Financial is committed to keeping your client’s valuable assets safe, while giving you the time you need to get a case-appropriate settlement. Strategic timing is the key; the right legal finance at the right time will produce additional case revenue for you and your client and the advance could, very likely, pay for itself out of proceeds it has made possible. If you have any questions about the appropriate and/or strategic use of litigation funding, please do not hesitate to call Lawsuit Financial, toll free, at 1-877-377-SUIT (7848) for a free, no obligation, consultation.
Attorney, certified civil mediator, and award-winning author of the Zachary Blake Betrayal Series—Mark Bello is also the CEO of Lawsuit Financial and the country’s leading expert in providing non-recourse lawsuit funding to plaintiffs involved in pending litigation. He is also a member of the State Bar of Michigan, a sustaining member of the Michigan Association for Justice, and a member of the American Association for Justice.